Cardano, a leading blockchain platform known for its proof-of-stake consensus mechanism, is on the verge of a significant transformation. The release of Node 9.0, announced by founder Charles Hoskinson on July 8th, marks a crucial step towards the highly anticipated Chang hard fork.
Node 9.0 Paves the Way for the Chang Era
This latest update introduces essential modifications necessary for Cardano’s entry into the Conway Ledger era. It ushers in on-chain governance, empowers Plutus script functionalities, and positions the network for a smooth transition into the Chang era.
A Collaborative Effort Towards Decentralization
While Node 9.0 represents a significant milestone, it’s merely the first step. Stake Pool Operators (SPOs) will now rigorously test the update, ensuring a seamless upgrade process. Once a minimum of 70% SPO consensus is achieved, the official Chang hard fork date will be announced.
This hard fork signifies Cardano‘s entry into a new era – one governed by a decentralized network. Elected members will provide credentials, and the Genesis Keys will be relinquished, marking a significant shift towards community-driven governance.
The Road to Full Decentralization
Following the hard fork, three critical steps remain to fully activate Chang and usher in the Voltaire era. The first involves activating decentralized governance structures 90 days after the hard fork. This empowers registered decentralized organizations (DOs) with voting rights and establishes an interim constitution for network stability.
The second stage focuses on fostering community involvement. Working groups will establish roadmaps, annual budget processes, and long-term governance practices. A convention in Colorado will solidify these working groups as a co-equal branch of Cardano’s government.
The final phase involves crafting a comprehensive constitution through global working groups. This document will be finalized at a Constitutional Convention in Argentina, followed by on-chain ratification and a new election for the constitutional committee. This signifies the culmination of IOG’s direct governance role and the dawn of a truly decentralized Cardano.
Also Read: Cardano (ADA) Stalls at $0.37: Can ADA Bulls Muster Strength or Face Deeper Losses?
A Call to Action for the Cardano Community
Charles Hoskinson emphasizes the importance of community participation in this transformative process. He encourages all community-driven projects to become Delegated Representatives (DSs) and actively shape Cardano’s future.
The release of Node 9.0 represents the culmination of years of collaboration and innovation. With its deployment, Cardano inches closer to its vision of a decentralized and community-governed blockchain ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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